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Splitting up Britain’s banks is the wrong approach to solving the current
crisis, according to the man who once headed the Bank of Scotland.

Instead, says Sir Peter Burt, the bonus culture that has infected the banks
with a culture of greed must be tackled, with Government stepping in to
defer inflated salaries or bonuses or even removing incentives altogether.
Speaking in the aftermath of the Libor scandal that last week cost the Royal
Bank of Scotland a £390 million fine for rigging interest rates, Sir Peter
said that banks had to go back to basics and rebuild trust with